Cellulant gets CBN’s payment approval

Central Bank of Nigeria (CBN) has issued an approval in principle to Cellulant Nigeria limited to operate as a payment solution service provider (PSSP) in Nigeria.

PSSPs are the companies that make up the underlying e-payment infrastructure in Nigeria. Banks, online merchants, payment processors, merchants, state-governments and consumers connect to PSSPs to meet their electronic payment needs.

The co-founder and chief executive officer of Cellulant Nigeria, Bolaji Akinboro, said with this approval, the company will extend its payment solutions across all spectrum of Nigeria’s payment system ecosystem.

Cellulant is a financial technology company that provides the e-payment solution known as “Tingg” and the developer of the world acclaimed e-wallet system that has transformed agriculture in Nigeria and the rest of Africa.

Businesses, banks and government agencies leverage on the Tingg solution to perform the last mile payment for farmers and the unbanked in the rural.